Fox Q2 Adjusted EPS $0.34 Beats $0.11 Estimate, Sales $4.23B Beat $4.21B Estimate
Portfolio Pulse from Benzinga Newsdesk
Fox (NASDAQ:FOXA) reported Q2 earnings of $0.34 per share, surpassing the $0.11 estimate, a 209.09% beat. Sales reached $4.23B, slightly above the $4.21B estimate. However, both earnings and sales saw a decrease from the previous year, with earnings down 29.17% and sales down 8.06%.
February 07, 2024 | 1:02 pm
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Fox reported a significant beat on Q2 earnings and sales estimates, with EPS at $0.34 against a $0.11 estimate and sales of $4.23B against a $4.21B estimate. Despite the beat, there was a year-on-year decline in both earnings and sales.
The significant beat on both earnings per share and sales estimates is likely to have a positive short-term impact on FOXA's stock price. Investors typically react favorably to earnings that exceed expectations, as it indicates the company is performing better than anticipated. However, the year-on-year decline in both metrics may temper some of the positive sentiment, as it suggests a decrease in profitability and revenue compared to the previous year.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100